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Michigan Compiled Laws, Chapter 324. Natural Resources and Environmental Protection § 324.71506

Current as of February 09, 2022 | Updated by FindLaw Staff

Sec. 71506. (1) The recreation bond fund is created in the state treasury.

(2) The fund shall consist of all of the following:

(a) The proceeds of sales of general obligation bonds issued pursuant to part 713  1 and any premium and accrued interest received on the delivery of the bonds.

(b) Any interest or earnings generated by the proceeds described in subdivision (a).

(c) Any repayments of principal and interest made under a loan program authorized for in this part.

(d) Any federal funds received.

(3) The department of treasury may establish restricted subaccounts within the fund as necessary to administer the fund.

1 M.C.L.A. § 324.71301 et seq.
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Cite this article: FindLaw.com - Michigan Compiled Laws, Chapter 324. Natural Resources and Environmental Protection § 324.71506 - last updated February 09, 2022 | https://codes.findlaw.com/mi/chapter-324-natural-resources-and-environmental-protection/mi-comp-laws-324-71506/

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